The Financial Times
writes:
Saudi Arabia's Public Investment Fund is in the "final stages" of
launching the kingdom's first sovereign wealth fund. ... Mansour
Al-Maiman, secretary- general of the internally focused PIF, said an
investment company wholly owned by PIF would be set up with initial
capital of SR20bn ($5.3 billion).
The new fund will be relatively small compared with that of its Middle
Eastern neighbors. The FT estimates the Abu Dhabi Investment
Authority's sovereign fund at a staggering $500 billion to $850
billion, Kuwait's at roughly $200 billion and Qatar's at $60 billion.
Sovereign wealth funds will be the subject of a panel discussion at The Deal's
Fifth Annual Private Capital Symposium on May 14, with Thomas Karol, president and CEO, The Sovereign Investment Council, speaking about the role of these investors.
- George WhiteSee Financial Times storySee more on the Private Capital Symposium
